PayPal President's Credit Card Info Stolen

Not really funny. Just shows haw bad problems with credit cards are and how much worse it's going to get.

PayPal and it's fees however is also not the answer.
 
wonder if his account got locked out. edit nvm. He says it wouldn't have happened if the merchant took paypal? lol
 
It's always funny until someone gets hurt. Then it's just hilarious. :D
 
Wouldn't have happened if merchant accepted paypal..."
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"...We would have taken a ridiculous fee and completed the transaction securely... "


but its his company, so he gets that fee back anyway.

the reality is that- if you arent the owner of paypal, paypal is not a great way to send money.
 
Somehow he must have used the backup mag stripe, or an ATM.

The sooner everyone switches to chip and pin the faster they can remove the mag stripe.
 
with the PayPal card it would have been worse. Locked bank accounts due to fraudulent activity.
 
Maximus825 said:
Also wouldn't have happened if chip/pin was standard.
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I believe his comment reflected that it was a chip/pin? "EMV chip"

It doesn't matter what you do (even Paypal), someone is gonna figure out how to steal it. All you can do is make it more difficult to do, but also more difficult to use. Example, you have to have a card/chip reader attached to your device to make online purchases. But then some crafty person will figure out how to spoof the tech and just plug in numbers of whatever stolen info he has. Now, Joe Asshat might not be able to spoof it, whereas now Joe Asshat can just plug numbers into a website.

meh....
 
ViperGrendal said:
I believe his comment reflected that it was a chip/pin? "EMV chip"

It doesn't matter what you do (even Paypal), someone is gonna figure out how to steal it. All you can do is make it more difficult to do, but also more difficult to use. Example, you have to have a card/chip reader attached to your device to make online purchases. But then some crafty person will figure out how to spoof the tech and just plug in numbers of whatever stolen info he has. Now, Joe Asshat might not be able to spoof it, whereas now Joe Asshat can just plug numbers into a website.

meh....
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Yes, but it's not standard so there isn't much incentive for merchants to upgrade their equipment. He had his card info stolen because he swiped his card. Once the liability shift happens next October, it will be different.
 
The trouble is that average consumer has to be pretty loose in the ass hole department to "accept" Paypal. If they aren't they sure will be once Paypal is through with them.
 
LMFAO loving it. Paypal has fucked over so many people that this is sweet, sweet schadenfreude.
 
It wouldn't have happened with Paypal because they freeze your account every time you try to use it.
 
I hate paypal, and I hate the fact that so many people selling on great places like [H] almost only exclusively accept PP.
 
Lets see...
Someone who got rich ripping off people got ripped off...
Damn, now THAT'S FUNNY!!!
 
ljbade said:
Somehow he must have used the backup mag stripe, or an ATM.

The sooner everyone switches to chip and pin the faster they can remove the mag stripe.
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In the US, Mastercard and Visa have set October 2015 as the date to shift liability to the side that doesn't support it. Now, not sure what happens if neither do...
 
I hate PayPal. Worst company ever. I used them 3 or 4 times and had nothing but problems with them. The only time I use them is when you can run your CC through them for a small company. But I'll NEVER use their core business.
 
If the merchant accepted Paypal he could have just said he never got the stuff and fucked the merchant for the cost. Fuck off, Paypal. Fucking thieves.
 
Paypal is an above average payment solution for costumers. I am not sure about other countrys, but in brazil the merchant takes the loss in credit card frauds. and it's been a few years since every new credit card issued has a chip. no sabe buyer would use the mag stripe, or shop at place that does not have a chip+pin solution.
I admit that for the seller paypal is sometimes a PITA, but:
- costumers like to pay with paypal.
- costumers do not like filling credit card info online
-is some countrys credit card fraud hurts the seller, not the buyer nor the credit card company

If i was a seller i would consider using paypal for some business models.
 
Why are you guys so butthurt? I've used PayPal for many years, ZERO trouble with them. You must be doing something wrong to get screwed with so little use...
 
geok1ng said:
Paypal is an above average payment solution for costumers. I am not sure about other countrys, but in brazil the merchant takes the loss in credit card frauds. and it's been a few years since every new credit card issued has a chip. no sabe buyer would use the mag stripe, or shop at place that does not have a chip+pin solution.
I admit that for the seller paypal is sometimes a PITA, but:
- costumers like to pay with paypal.
- costumers do not like filling credit card info online
-is some countrys credit card fraud hurts the seller, not the buyer nor the credit card company

If i was a seller i would consider using paypal for some business models.
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The following applies to my experience as to how Paypal functions in the US--I acknowledge that they function differently in different countries, but I can't comment much on that. Paypal dishonestly favors the buyer. Paypal can unilaterally freeze account funds indefinitely. Paypal is not transparent as to why they took actions against a user. A user is typically powerless if their account is locked by Paypal--there are so many numerous examples where a buyer fraudulently makes a claim against a seller; the seller's account--and any funds in that account are locked--for however long Paypal wants; as since they are not a financial institution, they do not need to pay the owner any interest for held funds. And despite numerous accounts of legit sellers showing incontrovertible evidence that they did not defraud the buyer, PP still sides with the buyer.

Paypal is a dishonest company.
 
I used paypal once and had no problems. Totally cancels out the thousands of people they regularly f over, right? Totally. :rolleyes:
 
Soyo13 said:
Why are you guys so butthurt? I've used PayPal for many years, ZERO trouble with them. You must be doing something wrong to get screwed with so little use...
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all it takes is some shitty buyer or seller to screw you once and then you realize how bad it is. i know more people with bad run ins with paypal then good
 
Steve said:
Bwahahahahahahahahhahahahahahahaha! Sorry, couldn't help myself. :D
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Thanks, gave me a good chuckle.

I dont use ebay anymore because of paypal.
One day I received an email from Paypal saying my bank details werent valid when I had used them just fine for years.
I checked the emails links and the address and they were all genuine.
I tried to get in touch with them and the process was heavily convoluted so I emailed them twice with multiple addresses.
I got no reply so told them I was done with them if they didnt respond.
Now I'm done with them :)

This wasnt the first issue, I had some left over funds in my account a few years before and one day they vanished.
They are not to be trusted.
They should be held to the same standards as a bank, because thats what they are, an unsafe bank.
 
I'd rather let the credit card companies handle fraudulent transactions than let Paypal handle fraudulent buyers.

Credit card companies don't hold you liable, whereas if some ebay buyer scams you, Paypal often sides with the buyer and you lose all your money.
 
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